SEPs and tax extensions—how to report?

Answered by:

Question:

How do we report SEP contributions when the contribution is made after tax reporting date? Extensions?

Answer:

Box 8. SEP Contributions Enter employer contributions made to a SEP IRA (including salary deferrals under a SARSEP) during 2020, including contributions made in 2020 for 2019, but not including contributions made in 2021 for 2020. Trustees and issuers are not responsible for reporting the year for which SEP contributions are made. Do not enter employee contributions to an IRA under a SEP plan. Report any employee contributions to an IRA under a SEP plan in box 1. Also include in box 8 SEP contributions made by a self-employed person to his or her own account

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IRA—Reporting and Compliance webinar.